Bank of New York Mellon Corp Sells 1,187 Shares of Brookfield Infrastructure Co. (NASDAQ:BIPC)

Bank of New York Mellon Corp lessened its holdings in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 342,464 shares of the company’s stock after selling 1,187 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.29% of Brookfield Infrastructure worth $13,702,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in Brookfield Infrastructure by 42.9% during the 4th quarter. Allworth Financial LP now owns 1,320 shares of the company’s stock valued at $55,000 after purchasing an additional 396 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Brookfield Infrastructure by 6.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,057 shares of the company’s stock valued at $202,000 after buying an additional 312 shares during the period. M&T Bank Corp purchased a new position in shares of Brookfield Infrastructure during the third quarter valued at about $204,000. MML Investors Services LLC bought a new position in Brookfield Infrastructure in the third quarter worth about $211,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Brookfield Infrastructure in the third quarter worth about $213,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Stock Performance

BIPC stock opened at $36.06 on Thursday. Brookfield Infrastructure Co. has a fifty-two week low of $28.47 and a fifty-two week high of $45.29. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 25.04 and a beta of 1.48. The business’s 50 day moving average price is $40.36 and its two-hundred day moving average price is $41.33.

Brookfield Infrastructure Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.77%. This is a boost from Brookfield Infrastructure’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Infrastructure’s dividend payout ratio is presently 119.44%.

Brookfield Infrastructure Company Profile

Brookfield Infrastructure Corporation, together with its subsidiaries, owns and operates regulated natural gas transmission systems in Brazil. The company also engages in the regulated gas and electricity distribution operations in the United Kingdom; and electricity transmission and distribution, as well as gas distribution in Australia.